Freedom Federal Savings & Loan Ass'n v. Department of Revenue

CARL N. BYERS, Judge.

Plaintiff appeals the value of its Corvallis headquarters building as of January 1,1986, and January 1,1987. The two-story building contains over 39,000 square feet, including basement, and is situated on 4.02 acres in a linear commercial zone. Constructed by Cascade Federal Savings and Loan Association (Cascade) in 1979 as a bank headquarters building, the property was sold in January 1984 to State Savings and Loan Association (State). State was closed by the Federal Savings and Loan Insurance Corporation (FSLIC) in December 1985 and plaintiff took over the property.

A…